2000,

September 20th.

This day is the day Smith Capital moves.

Smith Capital, which was originally located in the Woolworth Building, moved its entirety to the LIC next door to Manhattan Island.

Lic is the name New Yorkers call "Long Island City".

People often confuse Long Island City (longindcity) and Long Island (longind). The difference between one word and the other is a thousand miles away.

Long Island refers to a long and narrow island southeast of New York City.

The west side here is close to Manhattan Island, and the other three sides are close to the sea. It is very large and famous for its clear water beaches, coastal lighthouses, wineries, etc.

Abel's only manor villa at present, No. 1, Huangdian Road 13, is on this island.

In a narrow sense, Long Island City is a small area in the westernmost part of Long Island.

In 1870, this small city was born. Then it took 28 years for Long Island City to be incorporated into the Greater New York area along with Queens. Everyone affectionately abbreviated it as "lic".

Strictly speaking, it actually belongs to Queens and is an area below Queens.

In the 20th century, a bridge and a subway became the only way to enter Long Island from Manhattan, establishing Long Island City's important position as an industrial hub.

In the early urbanization process of New York, it played the same role as Williamsburg and Dumbo neighborhoods in Brooklyn, serving as the city's docks and factories.

It was not until the 1970s that the manufacturing industry ushered in a cold winter, and abandoned factories were spotted by artists who rented them for creation. This area gradually became the area with the most intensive art activities in New York.

Finally, after entering the 1990s, as the land in Manhattan was developed to the extreme.

More and more real estate developers are eyeing this area, and a large number of commercial buildings and high-end CBD office buildings have been developed.

In addition, it is only separated from Manhattan by the East River.

There are also many companies here that don't like the crowds in Manhattan, or simply think that Manhattan is too expensive.

They all moved here.

The most famous one is Citibank, whose headquarters is nearby.

Smith Capital's new headquarters building is located on the edge of the LIC on the edge of the East River, with a direct view of the Empire State Building opposite.

It is a five-story building built in 1970.

It was once used as a museum, library, and supermarket, and was purchased by Abel last month.

It took about a month and a cost of $3 million to renovate.

This place is now named [Smith Building] and is used as the headquarters building of Smith Capital.

Naturally, Abel does not need to do things like company moving.

Even without the help of David Mellon, a Wall Street elite, the company's deputy general manager Melio had already arranged everything in order.

Abel and David only had to stay in the fifth-floor office opened for them.

While drinking my favorite coffee, I looked at Manhattan across the way.

The two discussed the company's next investment plan.

"The current price of New York crude oil is, Brent is, Oman is."

office, David said: "It's obvious that it's been rising again over the past month."

"Wall Street analysts, as well as our own analysts, all believe that crude oil has a high probability of exceeding $36 or even $37."

Abel shook his head.

Smith Capital has previously invested US$1 billion in international crude oil.

Later, after receiving the funds from the first private placement, another US$1.5 billion was invested in it.

Smith Capital's current total investment in international crude oil has exceeded US$2.5 billion.

Adding leverage, the company can control more than 10 billion U.S. dollars in crude oil futures.

Abel said: "What is our average cost?"

When he first started investing, his requirement was that the purchase cost should not be higher than US$31 per barrel.

But when new funds were subsequently invested, oil prices had risen a lot.

On average, the cost obviously can no longer stay below $31.

Sure enough, David said: "Our current average holding cost is a total of 32.3 US dollars."

After hearing this data, Abel said: "That's enough. Even with the lowest New York crude oil, we still have a profit of more than 2.5 US dollars."

"David, let the people below start preparing. In these two days, while everyone thinks it will continue to rise and is optimistic about it, start closing positions and selling."

David Mellon was stunned.

Abel's judgment obviously refutes the current mainstream argument on Wall Street.

“Does it look like crude oil is going to fall?”

David said softly: "No problem, I will let everyone start selling goods right away."

Abel nodded, "Don't be too hasty. Just throw them out in a week. I predict that within a week, they can still stay at this price."

"Understood." David nodded.

In this way, the time allowed for David to operate is relatively generous.

This can at least make or save hundreds of millions of dollars more for Smith Capital, or even more profits.

After talking about the company's largest investment so far, David started talking about another thing.

"I made an appointment for you with Isaac Perlmutter. The gentleman would be happy to meet with you."

David said: "You have just become the chairman of an entertainment agency, established a sweatshirt brand, and now you are in contact with the chairman of a toy and comic company."

"To be honest, Abel, sometimes I don't know what you are thinking."

"Thank you, David. But I don't want to explain it to you now. You just need to know that you will know the reason in a few years." Abel replied with a smile.

David: "You're always like this"

"But who calls you the boss?" He added: "Isaac Perlmutter said he is available at any time. He is now on the plane to New York."

"Well, I remember that company he owned was not in New York before?"

"Yes. But you know, it almost went bankrupt and delisted in 1996. Although it recovered later, it has always been very difficult."

David said: "In 1998, in order to reduce expenses, Isaac Perlmutter moved the company to Los Angeles."

"Understood." Abel nodded, "Then let me know immediately when Mr. Perlmutter arrives."

As soon as David made an OK gesture, he saw Abel pause and ask another question.

"By the way, David. I heard that Perlmutter is a venture capitalist and also likes to play stocks?"

David nodded: "Yes. And let me tell you, before I was still working for Goldman Sachs, Isaac Perlmutter was one of my big clients."

"Oh, what a coincidence?" Abel couldn't help but raise his eyebrows, "Then you should be familiar with Isaac Perlmutter's investment?"

"Absolutely." David nodded and said.

"Hehe." Abel had a meaningful smile on his face.

He said, "So do you think we could create some trouble for Mr. Isaac Perlmutter?"

"Um" David Mellon looked at him, "What do you mean?"

Abel whispered something to him.

"Uh" David Mellon hesitated for a moment after hearing this.

"This seems a bit contrary to my professional ethics."

"Come on." Abel said with a smile: "This may make you hundreds of thousands of dollars more."

"Okay." David nodded, "My current professionalism is dedicated to Smith!"

"ha"

"That's right." Abel stood up, walked to David, and patted him on the shoulder: "Go ahead. You are much more professional than me in this regard."

David made an OK gesture, and the two of them laughed at the same time, looking a little embarrassed.

At this time, there was a knock on the office door.

Then a charming voice sounded:

"Mr. Smith, Mr. Mellon, this is Amanda. Can I come in? There are some documents that need to be left with you."

After hearing this voice, David gave Abel a thumbs up.

This guy also said softly: "I really do have you. Let the eldest lady of the Hearst family come over and help our company move!"

"Ha" Abel laughed, "You can't blame me. I didn't mean it. Who asked her to come over for internship just when our company was relocating?"

"Besides." Abel added: "It's not like I didn't tell her not to do this kind of work, she had to do it herself."
To be continued...